ENGIE FY23 Profit Surges, Revenues Down; Lifts FY24 NRIgs View, But Cuts FY25 Outlook

(RTTNews) - French energy provider Engie SA (ENGQF.PK, ENGIY.PK) reported Thursday that its fiscal 2023 net income Group share was 2.2 billion euros, significantly higher than last year's 0.2 billion euros.

Net recurring income Group share or NRIgs from continuing operations was 5.4 million euros, up 2.8 percent from 5.2 million euros a year ago.

EBITDA, a key earnings metric, increased 9.5 percent to 15.0 billion euros, and EBITDA, excluding Nuclear, grew 12.5 percent to 13.7 billion euros.

Revenue, meanwhile, dropped 12 percent to 82.6 billion euros from prior year's 93.9 billion euros. Revenues fell 11.4 percent organically.

Further, for 2023, the Board has proposed a dividend of 1.43 euros per share, for shareholder approval at the Annual General Meeting on April 30.

Looking ahead for fiscal 2024, ENGIE upgraded its net recurring income Group share guidance to a range of 4.2 billion euros to 4.8 billion euros, compared to the previous range of 3.8 billion euros to 4.4 billion euros.

EBIT excluding Nuclear is expected within an indicative range of 7.5 billion euros to 8.5 billion euros, compared to 7.2 billion euros to 8.2 billion euros previously announced.

For fiscal 2025, net recurring income Group share guidance is now expected in a range of 3.9 billion euros to 4.5 billion euros, compared to the previous range of 4.1 billion euros to 4.7 billion euros.

EBIT excluding Nuclear is expected within a range of 7.9 billion euros to 8.9 billion euros, compared to 7.5 billion euros to 8.5 billion euros previously announced.

Further, for fiscal 2026, net recurring income Group share guidance is expected in a range of 3.7 billion euros to 4.3 billion euros, and EBIT excluding Nuclear is expected in a range of 8.2 billion euros to 9.2 billion euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

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